In 1908, the whole entire Gowganda area was rather transforming when newly discovered Silver and Cobalt Deposits became opened up on the shorelines of Miller, and Everette Lakes. Almost all of this discovery was made when two different groups of prospectors discovered this material in the townships of Nicol and Haultain. This newly discovered deposit zone was rather transforming the area of Gowganda, Ontario, Canada. as many prospectors staked land near Miller and Everette Lakes. In addition this massive staking would also lead these individuals towards Gowganda Lake, where Mann Bro's had made the first ever silver discovery within this area. More so this whole entire discovery zone soon escalated another massive heard of prospectors who staked claims for miles and miles. No land was said to have been available during this time period as it was all staked by many eager prospectors looking to strike it rich.

As the year had slowly came to an end most of the prospectors had spent more than a couple of thousands of dollars towards supplies they would need. There was also a small fee that became enforced by the Timiskaming and Northern Ontario Railway as it had place fees on supplies that these prospectors brought with them. Many prospectors during the year of 1908, would face more issues as it was rather a very costly expense to haul mining plant equipment from the railway line to their claims. Almost all of this had consisted of several boilers, hoists, and compressors parts.

By 1912, the Hudson Bay Mining Company was well underway with development of their newly discovered silver deposit. In geological terminology the whole entire silver discovery was first uncovered near the shorelines of Stone Lake, that was located south of Gowanda Lake. As development continued the company owner would decided to construct his very own small scale plant. Most of this whole entire plant would consist of one 12 H.P Boiler, Two 50 H.P Boilers, and its very own three drill compressor and hoisting system. During this time period company officials also commenced development on the No. 1 shaft operation. Development of the No, 1 shaft had consisted of sinking this structure to 110 feet below ground level. The Hudson Bay Mining Company would also open this shaft up by constructing it very own mining level on the mines 80 foot section. Most of this was than opened up by some drifting methods that didn't go to far into the solid barren rock. No further development was said to have been achieved by this company within this year.

The Hudson Bay Mine is known for holding a massive 340 acreage of continuous mining land that was first owned and operated by the Hudson Bay Mines Limited. All shares within the starting point of this mine development and production we're known to also be held by the Temiskaming and Hudson By Mining Company Ltd.

By the following year the Hudson Bay Mines Limited would put full scale operation methods towards the newly developed Hudson Bay Mine. Further into extraction the company it self was well underway in processing a large tonnage of silver ore that produced 957,055 ounces of silver. A huge amount a development also continued below grounds when the company had now added 1,195 feet of drifting, and 1,653.9 feet of crosscutting towards both levels. Nevertheless, the company had mostly treated their own ore at its on-site 20 stamp mill facility. During this year alone the Hudson Bay Mines Limited would be able to process 21,439 tons of ore that came from the mine.

A new shaft known as Shaft No. 3 was shortly after sunken to its very own depth of 78 feet below surface levels. No further development was said to have taken place during 1913, when the mine was slowly becoming exhausted from its silver ore content. The No, 1 shaft within this time period was believed to have also been sunken to a depth of 204 feet. All development and production was mainly being aimed towards extracting the rich silver content on the first and second levels. Production and development on the first mining level was being further opened up by a drift that was driven to 88 feet from the shaft. Another construction phase occurred on the mine's second level when it had opened up by 169 feet drifting. Even the cross-cut section on the second level was achieving new development as it was now opened up by 220 feet within this level.

Production from the mill was known for treating 22.285 tons of ore that soon produce 466,698 ounces of pure commercial grade silver. All production from the mine had company officials extracting more than 600,000 ounces of silver within 1913. However, the Hudson Bay Mines Limited soon face another issue when a fire had damage several parts of the company's surface equipment before the mine came to its first closure on July, 1913.

By 1963,the Hudson Bay Silver Mine was rather transforming when a new company known as the Rusty Lake Mining Company had acquired this claim. Almost instantly the company wanted to change the whole name of this mining operation as it was now being called the Rusty Lake Silver Mine. In general the No. 1 shaft was being further sunken by this company, which was now resting at 190 feet. Another shaft operation known as shaft No. 2 was sunken to a depth of 80 feet, and the last shaft determined as the No. 3 shaft was resting at 225 feet below ground levels.

Development within this mining operation was mostly being focus on de-watering the No. 3 shaft to further construct it. Once the No. 3 shaft became dewatered this company soon place full scale development phases to extend this part of the mining operation.. A total of 120 feet of drifting was reported to have been achieved by this company within the No. 3 shaft operation. Further construction phases started to also escalated on the No. 1 shaft when the company was confined to the mine's 76 foot section. Further so the Rusty Lake Mining Company would start to expand this level when it had now consisted of 245 feet of drifting. As development started to expand on both shaft operations, the company also place full expanding phases on the No. 2 shaft. Production started to become achieved when the company place further development on the mine's 76 foot section. It was now being considered to have been opened up by a drift that was driven for a distance of 1,125 feet, and continued by a crosscut that was driven for a distance of 115 feet within the barren solid rock. Nevertheless, the newly formed company was on another move when it commence further exploration studies on the mine's No. 3 shaft that consisted both levels.

Many different types of structures also became further developed within the beginning of 1963, when the mine was first staked by this company. Almost all of this had included a cookery, hoist-room, compressor house, explosive storage magazine, dry house, bunk-house, and its very own machine shop. A head-frame that was known to be 55 feet high also became placed over one of the shaft operations. Nevertheless, this company also decided to install its very own equipment that would consist of 6 mine cars, 1 newly installed cage, 1 motor generator that was gasoline driven, 1 rocker shovel known as Eimco 12B. 1 air hoist, 1 sheave wheel, and 1 diesel powered generator.